Banque Du Caire: Microfinance Portfolio Surges to EGP6 bln at August-End

Banque Du Caire’s total microfinance portfolio hit around EGP 6 billion by the end of last August.

A senior source from Banque Du Caire told Amwal Al Ghad that his bank has the biggest market share in terms of microfinance for its volume of finances reached EGP one billion by the end of 2012, bolstering the lender’s portfolio to EGP 612 million, against EGP 500 million by the end of 2011.

The source noted that Banque Du Caire is injecting monthly finances ranging between EGP 90-100 million since the lender is aiming within the current year to increase its net finance portfolio by EGP 700 million.

The bank has so far achieved a growth in its net finance portfolio by EGP 670 million till last August, the source added.

He also revealed that Banque Du Caire is planning to inaugurate 7 new units for the microfinance and personal loans within the current year, to be added to the existing 237 branches in the country.

Moreover, the source explained to Amwal Al Ghad that the recent policies adopted by Banque Du Caire have propelled its portfolio of retail loans to hit EGP 12 billion by August-end. The bank is targeting an increase of 25% in retail loan portfolio in which the lender has attained 22% growth so far by August-end.